The harmonic filter market is set to undergo a remarkable upsurge, with a steady 6.9% CAGR projected from 2023 to 2033. This surpasses the comparatively lower 4.8% CAGR recorded between 2018 and 2022. This noteworthy escalation is poised to propel the market value from USD 977.8 million in 2023 to a substantial USD 1,911.5 million by 2033.
The escalating need for power inverters and static converters in industrial domains, including data centers and cloud computing, is poised to drive market expansion. Harmonic filters are crucial in ensuring reliable power transmission by effectively tackling power quality issues. This significance is further underscored as they cater to the amplified energy requisites across various industries.
The proliferation of non-linear loads in modern industries has underscored the need for harmonic mitigation. These filters act as a bulwark against power disturbances caused by harmonics. Hence, they safeguard sensitive equipment and prevent potential damage. The imperative to conform to stringent regulatory standards regarding power quality further reins on power-related norms. As a result, industries are prompted to adopt these filters to maintain compliance.
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The dynamic landscape of renewable energy integration has added another dimension to the market. Renewable sources are gaining prominence. Consequently, their intermittent nature poses challenges to the stability of power grids.
Harmonic filters step in as a solution to ensure the smooth integration of these energy sources. These avant-garde filters allow for a seamless power flow and avoid grid instability issues. The integration of clean energy harmonizes with the global shift toward sustainable practices. As a result, harmonic filters are a critical facilitator of this change.
Key Takeaways
- In 2022, the United States commanded a notable 17.1% share of the global harmonic filter market. This achievement was backed by the country’s advanced technological infrastructure and a strong network of research and development centers, contributing to its prominent position in the industry.
- India harmonic filter industry is projected to grow at a steady CAGR of 9.2% by 2033. This growth is driven by the increasing demand to tackle power quality concerns within the rapidly evolving industrial landscape.
- Through 2033, the United Kingdom harmonic filter industry is set to experience moderate expansion at a CAGR of 5.2%. This growth underscores the country’s commitment to maintaining robust power distribution networks within a dynamic energy sector.
- The harmonic filter market in China is predicted to develop at a 7.5% CAGR through 2033. This growth is attributed to China’s dedicated efforts to enhance power grid stability and mitigate harmonics-related challenges across its manufacturing and infrastructure domains.
- In 2022, the harmonic filter industry in Germany exhibited moderate growth, capturing a 6.4% share of the global market. This trend is driven by the adoption of harmonic mitigation technologies by industries and utilities.
- In 2022, Japan’s harmonic filter industry claimed a 2.3% global market share. This growth can be accredited to the nation’s commitment to embracing cutting-edge technology for mitigating power quality issues and sustaining operational efficiency.
Competitive Landscape
The harmonic filter market is characterized by several significant players, including ABB Ltd., Siemens AG, Eaton Corporation PLC, Schneider Electric SE, and Emerson Electric Co. These industry leaders boast substantial market shares and offer various harmonic filter products catering to different applications and sectors. These market players are strategically innovating and deploying advanced technologies to address power quality challenges.
These enterprises demonstrate a profound commitment to research and development, fostering collaborations with utilities and industries to optimize harmonic mitigation strategies. They are also dynamically reshaping the industry through strategic maneuvers like mergers, partnerships, and acquisitions. These actions are geared toward consolidating expertise and expanding market reach.
Other Harmonic Filter Market Players
- Baron Power Limited
- Crompton Greaves Ltd
- TDK Corporation
- Schaffner Holding AG
- Comsys AB
- Merus Power Dynamics Oy
- Larsen & Toubro Ltd.
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Recent Developments
- In June 2021, HPS introduced the HPS Centurion P Passive Harmonic Filter, countering harmonic currents from non-linear loads. It enhances power quality by lowering harmonics and increasing the actual power factor for consistent efficiency. It is available in 5 to 500-horsepower variations.
- In November 2020, CP Automation introduced a new range of compact Revcon harmonic filters and regen units, including the Revcon RLD, Revcon Harmonic Filter RHF-5P, and Revcon RHF-Active.
Key Segments Profiled in the Harmonic Filter Market Survey
By Type:
- Active
- Passive
- Tuned
- De-tuned
- Hybrid
By Voltage:
- Low
- Medium
- High Medium
By Modality:
- Single Phase
- Three Phase
By Application:
- Commercial
- Industrial
- Residential
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
- Europe
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